WWE’s stock took a noticeable jump in after-hours trading on Thursday following The Wall Street Journal‘s report about Vince McMahon’s plans to return to WWE. McMahon’s plan, which he personally confirmed in a press release shortly after the report dropped, includes him returning as the executive chairman of the Board of Directors, placing both George Barrios and Michelle Wilson on the Board and overseeing a sale of WWE and its upcoming media rights negotiations. If he is not given the position, he will use the 80% of voting power he holds through Class B stock to reject any sale or media rights deal.
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The stock closed at $72.04, but within 15 minutes was up to $81 per share. As of this writing, it sits at $79.40. The stock took a noticeable hit last month when The Wall Street Journal dropped its first report of McMahon wanting to make a comeback. The speculation online is that the stock jump is due to investors attempting to benefit from a sale rather than excitement over McMahon returning to power.
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